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Shipbuilder Drydocks World, a unit of Dubai World, has proposed repaying creditors in five years and is seeking more working capital as it tries to restructure a $2.2 bln loan facility, ending lengthy and complex debt talks.
March 10, 2012 4:55
Dubai's ship building unit Drydocks World, in negotiations to restructure a $2.2 billion loan facility, will present terms of the proposal to lenders on March 8, seeking to put an end to the long-drawn and complex debt talks.
March 1, 2012 1:42
He deserves his day in court, for sure. But does the former Nakheel CEO deserve his benefits and pay after given the company was pretty much sinking in the red?
December 20, 2011 12:59Drydocks eyeing payment extension of 5-8 years; No financial support sought from Dubai govt
December 20, 2011 10:57Dubai port operator DP World has reopened its Ain al-Sokhna port in Egypt after a temporary shutdown caused by labour strikes, the head of the Red Sea Ports Authority said on Monday.
September 26, 2011 2:27A special tribunal set up to hear disputes over Dubai World's debt restructuring may not hear cases against former unit Nakheel after the government took over the troubled property developer in August.
September 26, 2011 2:14Nakheel is restructuring $10.9 bln with creditors; Will provide term sheet to bank lenders for final approval; Says restructuring process is nearing completion
March 23, 2011 3:21Dubai World sets interest rate at 2.4 percent; Repayment will be issued in two tranches
March 23, 2011 3:11
Dubai World is signing its deal with its last creditor next week – whoopee! Wait; weren’t we excited about this five months ago, when we first heard about the completed debt restructuring?
March 10, 2011 3:15New legislation intended to replace current laws
February 28, 2011 3:52Drydocks World, unit of Dubai World about to enter into discussions with representatives of its lenders
January 22, 2011 2:54
Kipp is thinking that a sinking of the World islands in Dubai may be no bad thing.
January 20, 2011 4:23
Good news: This week some of the big boys say they expect to return to profit this year. Still a wee bit of debt to worry about, but it’s a start.
January 19, 2011 5:38Communication and housing costs fall.
January 19, 2011 10:35Problems seen in raising fresh capital through bank loans.
December 23, 2010 4:22People like to say the UAE is a country rife with contradictions-but the point couldn’t be better illustrated by two articles in the local press this week.
May 21, 2012 3:47 0Times are a-changing; the safe UAE Kipp grew up in, is changing too. Be cautious of fraudsters and always be careful with your credit card...
May 20, 2012 4:09 0Great work to everyone who worked on the project :)
May 20, 2012 11:21Thanks for changing it. Thumbs up :)
May 13, 2012 8:25With its bank credit scarce, Dubai is planning to raise at least $500 million by issuing bonds secured against future revenues of Dubai Duty Free. Will shopping save the day?
March 6, 2012 2:18 1"If you can't live with volatility, stay in bed," says 66-year old economist Marc Faber, who cautions people to secure wealth by buying precious metals and investment equities.
March 6, 2012 1:42 1As the world’s most expensive glasses will be launched this Sunday, Kipp takes a look at some of the most expensive and exclusive eyewear.
May 10, 2012 4:21 0Mother’s day is around the corner and if shopping for gifts just isn’t your thing, take a look at Kipp’s top six gift ideas for Mother’s Day…
May 9, 2012 4:37 0
So how exactly is the Municipality executing this campaign? A series of lectures, workshops, film screenings, awareness drive and, wait for it, taxi drivers.
May 21, 2012 3:53
Benevolent master developer to cater for those ‘less-well-heeded,’ with affordable studios at the Palm Views East and West.
May 21, 2012 3:44
People like to say the UAE is a country rife with contradictions-but the point couldn’t be better illustrated by two articles in the local press this week.
May 21, 2012 3:47
Times are a-changing; the safe UAE Kipp grew up in, is changing too. Be cautious of fraudsters and always be careful with your credit card...
May 20, 2012 4:09
